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This market rally has done a good job

Posted on 4/9/20 at 5:38 pm
Posted by Lgrnwd
Member since Jan 2018
5235 posts
Posted on 4/9/20 at 5:38 pm
of pausing and pulling back just enough to digest its gains. This has allowed the rally to continue and frustrate the hell out of shorts.

I thought 2800-2850 would most likely be the end. But the market continues to methodically climb the “wall of worry”. Until we see some real exuberance and acceptance of this rally I don’t see it stopping.

It looks like a testing of the moving averages from 2900 to 3000 is the most likely scenario now.




Posted by stout
Smoking Crack with Hunter Biden
Member since Sep 2006
167272 posts
Posted on 4/9/20 at 5:58 pm to
Posted by Lgrnwd
Member since Jan 2018
5235 posts
Posted on 4/9/20 at 6:09 pm to
Yea that too
Posted by CheEngineer
Louisiana
Member since Aug 2019
4234 posts
Posted on 4/9/20 at 8:30 pm to
Posted by thatguy777
br
Member since Feb 2007
2386 posts
Posted on 4/9/20 at 8:36 pm to
I changed my thought process a couple of days ago. Originally thought we were going to retest lows soon. Over the last few days I’ve realized that won’t happen soon. Go long buy stocks. When everyone stops talking about dead cat bounces I will short the market
Posted by JetsCoach
Bossier City
Member since Dec 2017
769 posts
Posted on 4/9/20 at 9:39 pm to
What happens in a Live Cat Bounce?

Posted by CheEngineer
Louisiana
Member since Aug 2019
4234 posts
Posted on 4/9/20 at 9:41 pm to
I think that is what is going on now. Nobody knows which way this thing is going.
Posted by Tigers4life
The great US of A
Member since May 2004
1865 posts
Posted on 4/10/20 at 8:33 am to
This rally was built on FOMO, short squeeze, momentum, hope and speculation. No constructive data...ZERO. Prepare to be disappointed if things don't improve soon.
This post was edited on 4/10/20 at 8:36 am
Posted by Lgrnwd
Member since Jan 2018
5235 posts
Posted on 4/11/20 at 9:51 am to
quote:

This rally was built on FOMO, short squeeze, momentum, hope and speculation


That is pretty much what every market rally is built on.

And since 2009 you can now add Fed liquidity to that.
Posted by Tigers4life
The great US of A
Member since May 2004
1865 posts
Posted on 4/11/20 at 1:30 pm to
quote:

That is pretty much what every market rally is built on.


My point is....a sustainable bull market is built on earnings and economic expansion/growth. This market is gambling bigger than ever that this will go away quickly or it's a mega bull trap. Either way...we will soon see.
This post was edited on 4/11/20 at 1:44 pm
Posted by cwill
Member since Jan 2005
54752 posts
Posted on 4/11/20 at 1:34 pm to
Posted by crazycubes
Member since Jan 2016
5256 posts
Posted on 4/11/20 at 2:05 pm to
Tell me more about BioAnal
Posted by Sho Nuff
Oahu
Member since Feb 2009
11917 posts
Posted on 4/11/20 at 2:24 pm to
Posted by cwill
Member since Jan 2005
54752 posts
Posted on 4/11/20 at 3:37 pm to
Posted by AndyJ
Member since Jul 2008
2755 posts
Posted on 4/11/20 at 3:53 pm to
This post was edited on 4/11/20 at 3:54 pm
Posted by SECdragonmaster
Order of the Dragons
Member since Dec 2013
16218 posts
Posted on 4/11/20 at 4:38 pm to
I am done trying to predict this market.

I put half of my liquid portfolio in around 2300 and I am waiting to see what happens.

I think we are moving hard EITHER up or down.

I will put the rest in once that happens.

But yes, this rally is not based on any form of logic.
Posted by Retrograde
TX
Member since Jul 2014
2900 posts
Posted on 4/11/20 at 5:17 pm to
These companies have to release earnings and they won’t be good. I think we finish the year at 3000 but it will be a bumpy ride.
Posted by tokenBoiler
Lafayette, Indiana
Member since Aug 2012
4415 posts
Posted on 4/11/20 at 8:16 pm to
I found a dollar bill on my lawn today when I was mowing. Powell doing work, I guess. Now I can go buy a stock.

100% true story.
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